Bridgford Foods

Bridgford Foods Corp. engages in the manufacture, market and distribution of frozen and snack food products throughout the United States. It operates through the Frozen Food Products and Snack Food Products business segments. The Frozen Food Products segment manufactures and distributes food products, including biscuits, bread dough items, roll dough items and sandwiches. The Snack Food Products segment distributes both products manufactured by the company and products manufactured or processed by third parties. The company was founded by Hugh H. Bridgford in February 1932 and is headquartered in Dallas, TX.

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Bridgford Foods Corp. engages in the manufacture, market, and distribution of frozen and snack food products. It operates through the Frozen Food Products and Snack Food Products segments. The Frozen Food Products segment manufactures and distributes food products, including biscuits, bread dough items, roll dough items, and sandwiches. The Snack Food Products segment distributes both products manufactured by the company and third parties. The company was founded by Hugh H. Bridgford in February 1932 and is headquartered in Dallas, TX.

Bridgford Foods receives a buy rating due to its market price trading below its tangible book value and potential for growth when market headwinds subside. The company is going through inflationary pressures that have persisted over the past 2 years materially damaging margins. I believe there is hidden value on the balance sheet due to GAAP accounting rules.

Bridgford Foods: Hidden Value On The Balance Sheet

Bridgford Foods Corporation is undervalued and has a solid balance sheet, making it a good investment despite macro headwinds. The company is focused on expanding its distribution network, which will lead to compounding growth and improved cash flows. Bridgford must restructure its strategy to stimulate growth and recover from recent declines in earnings and revenues.

Bridgford Foods: Distribution Network Expansion Resulting In Compounding Growth

Bridgford Foods Corporation has made massive progress over the years, and thanks to the company's hidden value in real estate, fiscal 2022 was the firm's best year in its nearly 100-year history. In 2000, Bridgford Foods initiated a large 2 million share buyback due to perceived undervaluation, with only 120,000 shares currently remaining for repurchase. Due to the 2022 sale of a meat processing plant in downtown Chicago, purchased in 1975 for $500,000 and sold for $60,000,000, shareholders' equity increased by 68%, long-term debt fell from $36 million to $3.89 million, and cash increased from zero to $16 million.

Bridgford Foods: Looking To Exploit The Disconnect

VANCOUVER, British Columbia, June 22, 2023 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") a global leader in vacuum-microwave dehydration technology, has announced the signing of a royalty-bearing commercial license (the “License”) with Bridgford Foods Corporation (NASDAQ: BRID) (“Bridgford”) a leading American food production company, for the manufacture of certain military ration products using EnWave's innovative Radiant Energy Vacuum (“REV™”) dehydration technology. The exclusive license granted to Bridgford will enable the company to leverage the full potential of REV™ technology to produce certain military ration products in the United States of America. Bridgford has also purchased a 120kW REV™ machine.

EnWave and Bridgford Foods Sign Commercial License Agreement to Produce Military Ration Components

Net sales have increased at a relatively fast pace over the years. Margins are under pressure due to high inflation rates and increased production and transportation costs.

Bridgford Foods: A Strong Balance Sheet Should Help It Navigate Current Headwinds

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Bridgford Foods manufactures doughs, biscuits, sandwiches, beef jerky, snack, and deli foods. Considering large existing customers as well as the fact that the products were sold for a long time, I wouldn't expect large revenue volatility.

Bridgford Foods: Stable And Tested Business Model At A Cheap Valuation

DALLAS, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Bridgford Foods Corporation (Nasdaq: BRID) today announced that effective October 29, 2022, Raymond F. Lancy, Chief Financial Officer, Executive Vice President, Treasurer and Member of the Executive Committee will reduce his work schedule to 3 days a week. Mr. Lancy plans to fully retire on February 1, 2023. Cindy Matthews-Morales will be appointed Chief Financial Officer and member of the Executive Committee effective October 29, 2022. Mr. Lancy will become Vice President and Treasurer until February 1, 2023. The Company will execute a consulting agreement with Mr. Lancy in case there is a need for his services or for special projects. Mr. Lancy will remain on the Board of Directors for the upcoming term in 2023.

Bridgford Foods Corporation (Nasdaq BRID) Announces Changes in Principal Officers

The high relative strength of Bridgford stock is off the page. Real estate holdings are vast and not accurately reflected within the balance sheet.

Bridgford Foods Is Ready For Liftoff

DALLAS, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Bridgford Foods Corporation (Nasdaq: BRID) today announced that effective October 30, 2021, the Board of Directors of Bridgford Foods Corporation made the following changes to principal officers of the company. The Board of Directors elected Michael W. Bridgford as Chairman of the Board. He succeeds William L. Bridgford who was elected Vice President. Michael Bridgford has most recently served as Vice President of Bridgford Foods Corporation with responsibility for the company's sales and marketing operations in the Frozen Food Products Segment.

Bridgford Foods Corporation (Nasdaq: BRID) Announces Changes in Principal Officers

The price of shares recently collapsed and accumulates a ~65% decline from all-time highs. Gross profit margins declined to 20.97% during the second quarter of fiscal 2021.

Bridgford Foods Is In Very Good Shape Despite The Share Price Collapse

VANCOUVER, British Columbia, May 27, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") today reports the Company's consolidated interim financial results for the second quarter ended March 31, 2021.

EnWave Announces 2021 Second Quarter Consolidated Interim Financial Results

VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a technology evaluation and license option agreement (the “TELOA”) with Bridgford Foods Corporation (NASDAQ: BRID) (“Bridgford”), a leading American food production company. Bridgford currently focuses on the production of frozen and snack foods, with operations in California, Texas, Illinois and North Carolina. Prior to the signing of the TELOA, Bridgford entered into a cooperative research and development agreement (“CRADA”) with the U.S. Army to jointly develop commercially viable military ration components.

EnWave Signs Technology Evaluation and License Option Agreement with Bridgford Foods Corporation to Collaborate with the U.S. Army to Produce Military Rations

ANAHEIM, Calif., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Bridgford Foods Corporation (Nasdaq: BRID) today announced that Allan Bridgford Jr. resigned as a member of the Board of Directors of Bridgford Foods Corporation. The resignation was not the result of a disagreement with management regarding operations, policies or practices of the Company. Mr. Bridgford will continue to serve as a consultant to the Company.

Bridgford Foods Corporation Announces Director Resignation

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ANAHEIM, Calif., Oct.  16, 2019  (GLOBE NEWSWIRE) -- Bridgford Foods Corporation (Nasdaq: BRID) today announced that Paul R. Zippwald resigned as a member of the Board of Directors of Bridgford Foods Corporation (the “Company”) as well as a member of the Company’s Audit and Compensation Committees, effective immediately.  The resignation was not the result of a disagreement with management regarding operations, policies or practices of the Company.

Bridgford Foods Corporation (NASDAQ:BRID) Announces Director Changes

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